www.streetwisereports.com/article/2018/11/...of-a-junior.html
Bei Driftwood muss ein Finanzier her, der entsprechend kapitalkräftig ist.
Wird ausführlich besprochen letzten Interview:
..... Let's talk about Driftwood a bit. What are your thoughts on financing for Driftwood capex? I heard from existing shareholders that they are not really in favor of further share dilution to raise funds for this project. Is MGX looking to banks or other institutions for grants, loans, tax incentives to get this quarry going, or JV this?
JL: We are not at that phase yet but we understand there is a big difference between raising US$20 million and raising US$250 million in terms of dilution, and Driftwood would be the latter. The project will most likely be financed as a subsidiary within its own capital structure, whereby MGX will be a shareholder of the mining company with its own shareholders, whether investment bank, JV partner, or consortium of investment funds. This is a core asset so it is unlikely we would list it independently. This type of scenario as a private sub then allows cash to flow back into MGX with which we can start to buy back shares and pay cash dividends. The share buyback is something we want to get going as soon as it is practical.
TCI: Interesting plans. When do you think the Driftwood PFS will be ready? Are you going to fund capex from the PFS or would you need a FS for financiers?
JL: We will have a PFS update this week. Basically all the data has been compiled and analyzed and Hatch wants some additional metallurgy and thermo work done in order to fine tune the finished product. This works for us as it will get us a variety of very specific samples we can use to negotiate offtake and potentially start talking to JV partners. This is the last external piece after which Hatch will take all the work they have done and complete all the detailed mine plan, plant design, etc. for the PFS. This is a pretty straightforward deposit and the first phase capex might be under $150 million, which we should be able to finance with just the PFS.
We don't see the need of the very high level of certainty required for a FS, as it's just not a very complex operation with very limited pieces of equipment from an open pit. Roads are already essentially in place because of the logging in the area, lots of drilling already completed and bulk samples, and it all looks good. An after-tax NPV5 of US$240.7 million on a US$179.3 million capex, 19.3% after-tax IRR, just a great project for British Columbia. And there is also potential for a significant LOM- and resource increase, when we get back to drilling in the spring, which would make its way into the PFS. Very exciting and the most environmentally friendly product, MgO is great for the environment, animals, people and plants, and there are lots of uses. The global market is north of 10MT and prices are strong and raising, so we really expect a lot of support on of the cleanest commodities one could mine.